The USD continued to lose ground against major currencies [Video]
|The USD continued to lose ground against major currencies last week, testing key support and resistance levels, making this week crucial in finding its next direction. Now the markets will be focused on an FOMC rate decision and second-quarter US GDP data. We could see further drops in the USD should the Federal Open Market Committee (FOMC) soften its hawkish outlook for monetary policy this week. On the economic calendar today we have the Markit PMI data out of France, Germany and the Eurozone during the London session. The US Markit PMI data will be up next at 1:45 PM GMT. Last but not least, BOJ Minutes of June 15-16 Meeting will be out during the next day’s Asian session at 11:50 PM GMT. Thanks for watching, invest responsibly and I wish you the best of luck making pips by trading forex.
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